Progressive Investment Management Corp Acquires 2,543 Shares of CBRE Group Inc (CBG)
Progressive Investment Management Corp grew its holdings in CBRE Group Inc (NYSE:CBG) by 3.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 84,092 shares of the financial services provider’s stock after acquiring an additional 2,543 shares during the period. CBRE Group comprises approximately 2.4% of Progressive Investment Management Corp’s portfolio, making the stock its 18th biggest holding. Progressive Investment Management Corp’s holdings in CBRE Group were worth $3,642,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Fieldpoint Private Securities LLC purchased a new position in shares of CBRE Group in the 3rd quarter worth $104,000. Invictus RG purchased a new position in shares of CBRE Group in the 3rd quarter worth $104,000. GQG Partners LLC purchased a new position in shares of CBRE Group in the 2nd quarter worth $122,000. BB&T Investment Services Inc. purchased a new position in shares of CBRE Group in the 2nd quarter worth $125,000. Finally, Zions Bancorporation grew its stake in shares of CBRE Group by 5,136.8% in the 3rd quarter. Zions Bancorporation now owns 3,561 shares of the financial services provider’s stock worth $135,000 after buying an additional 3,493 shares in the last quarter. 94.58% of the stock is owned by institutional investors and hedge funds.
In related news, Director Frederic V. Malek sold 6,900 shares of CBRE Group stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $43.28, for a total transaction of $298,632.00. Following the completion of the sale, the director now owns 267,446 shares in the company, valued at approximately $11,575,062.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP J. Christopher Kirk sold 20,000 shares of CBRE Group stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $43.32, for a total transaction of $866,400.00. Following the sale, the executive vice president now owns 118,162 shares of the company’s stock, valued at approximately $5,118,777.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,024,872 shares of company stock valued at $129,080,441. 1.00% of the stock is owned by corporate insiders.
A number of brokerages have commented on CBG. Zacks Investment Research cut shares of CBRE Group from a “buy” rating to a “hold” rating in a research note on Monday. Bank of America lifted their price target on shares of CBRE Group from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. Finally, Barclays reaffirmed a “buy” rating and set a $47.00 price target on shares of CBRE Group in a research note on Wednesday, December 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. CBRE Group presently has a consensus rating of “Hold” and a consensus target price of $41.00.
CBRE Group Inc (NYSE CBG) opened at $44.84 on Tuesday. CBRE Group Inc has a 52 week low of $29.69 and a 52 week high of $44.91. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.66. The company has a market cap of $15,220.00, a PE ratio of 19.41, a P/E/G ratio of 1.23 and a beta of 1.87.
CBRE Group (NYSE:CBG) last released its quarterly earnings results on Friday, November 3rd. The financial services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.10. CBRE Group had a net margin of 5.75% and a return on equity of 26.22%. The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same period in the previous year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. analysts predict that CBRE Group Inc will post 2.67 earnings per share for the current year.
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About CBRE Group
CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company operates as a commercial real estate services and investment company. The Company operates through the segments: The Americas; Europe, Middle East and Africa (EMEA); Asia Pacific; Global Investment Management, and Development Services.
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